Orlando, Fla. — Orlando-based Italian dining chain Buca di Beppo has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The restructuring will involve 44 core restaurants, as well as a new store currently being opened. According to a press release issued by the company, it is “committed to ensuring that the restaurants operate as usual.” Gray Reed & McGraw LLP is serving as legal advisor, and CR3 Partners LLC is acting as financial advisor, as well as providing corporate leadership as the chief restructuring officer. Stout Capital …
Brandon and Tamarac, Fla. — A joint venture between ShopOne Centers REIT, Pantheon and a global institutional investor has acquired two retail centers — Midway Plaza and Lithia Square — totaling 287,407 square feet in Florida. Located in Tamarac, Midway Plaza comprises 218,400 square feet. Publix anchors the property, which was 84 percent occupied at the time of sale. Walmart anchors Lithia Square, which spans 69,007 square feet in Brandon. The property was 79 percent occupied at the time of sale. This brings the joint venture’s portfolio to 1.8 million square …
Homestead, Fla. — Limestone Asset Management has acquired a single-tenant property located in Homestead. Burger King occupies the building, which was built in 2008 and totals 3,005 square feet. Kevin Sanz of Orion Real Estate Group represented Limestone in the transaction. Alex Sharrin of JLL Capital Markets represented the seller.
Miami — Miami-based Orion Real Estate Group has acquired a retail portfolio located in Florida, Texas and Illinois for $50 million. An undisclosed family office sold the portfolio, which totals 94,000 square feet across 12 properties. Tenants at the properties — which include 11 single-tenant properties and two two-tenant properties — include banks, a fitness center, pharmacy, urgent care facility and quick-service restaurant. Alex Sharrin, Jeff Cicurel, Eric Osika and Noel O’Donnell of JLL Capital Markets represented the seller in the transaction.
Tampa, Fla. — Japanese variety retailer Daiso has announced plans to open its first Florida Store in Tampa. Scheduled to open in the first quarter of 2025, the store will be situated within Northdale Promenade. David Eggnatz of Katz & Associates represented Daiso, in the leasing negotiations. Brian Hector represented the landlord, Kite Realty, on an internal basis. Daiso is currently seeking additional sites throughout Florida ranging in size from 7,000 to 12,000 square feet.
Doral, Fla. — Limestone Asset Management has acquired a single-tenant property located in Doral for $13.6 million. LA Fitness occupies the building, which was built in 2001 and totals 37,500 square feet. Kevin Sanz of Orion Real Estate Group represented the buyer in the transaction. Alex Sharrin of JLL Capital Markets represented the undisclosed seller.
Orlando, Fla. —Primark has signed a lease at The Florida Mall in Orlando with plans to open a 36,000-square-foot store at the property. Spanning two stories, the store will feature an entire floor dedicated to Disney merchandise. Scheduled for the end of August, the opening will bring the retailer’s U.S. portfolio to 26 locations. Primark currently operates one store in the state at Sawgrass Mills in Sunrise. “Florida is a pillar of our expansion into the Southern U.S. market,” says Kevin Tulip, president of Primark U.S. Simon Property Group owns The …
The Woodlands, Texas — Conn’s HomePlus, a Texas-based home furnishing retailer, has filed for Chapter 11 bankruptcy and will close at least 70 stores nationwide, according to reports from multiple media outlets including CNN and USA Today. The latter publication reports that Conn’s filed for bankruptcy protection this past Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas amid slumping revenue reports. The impacted stores are located throughout 13 states, according to CNN. Both news organizations report that the state with the highest concentration of closures is Florida (18), followed by Texas …
Doral, Fla. — SJC Ventures and Nuveen Real Estate have acquired a 10-acre parcel in Doral, roughly 17 miles outside Miami, with plans to develop a mixed-use center at the site. Upon completion, the center will comprise 88,938 square feet. Whole Foods Market will anchor the property, which has been named Doral Marketplace. Other tenants at the center will include Shake Shack, First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa and Apizza Brooklyn Resto + Vino. Doral Marketplace will be situated adjacent to Bridge Point Doral, an industrial park …
Ocala, Fla. — SRS Real Estate Partners has brokered the $3.5 million sale of a newly delivered single-tenant property located in Ocala, a city in Central Florida. Chipotle Mexican Grill occupies the building, which totals 2,490 square feet, on a 15-year, triple-net lease. The property is situated on a one-acre lot near an Aldi, Walmart Supercenter, Lowe’s Home Improvement and Ross Dress for Less. Patrick Nutt and William Wamble of SRS represented the undisclosed seller in the transaction. A Spain-based buyer acquired the property.